Asia Bizz: Intel Corp. USA is willing to buy back $10 billion worth shares, as the company is concerned that it is falling way back due to the evolving mobile market. Intel’s last year performance has been outstanding and it has done quite well in the market too, but the fear today is, the customers have now started to move towards tablets and smartphones, instead of conventional computers.
Previously the company had announced that it will shoot up the dividends by 15%, later many investors felt they should also push the company’s stocks. A CLSA analyst has said “Clearly they had their best year in 2010 but still the stock has underperformed its peers. I can understand management being frustrated”.
Intel provides its processors to almost 80% of the machines around the world, but the sad part is, customers have now opted to smartphones and tablet pc’s to surf and visit social networks. Surfing on the web has now become popular on smartphones and other devices, and people are not willing to go for PC until its for business use only.